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Mariupol Steel Illicha To Switch To Converters.

Mariupol Steel Illicha To Switch To Converters.

2 November 2008

According to the company’s CEO, Volodymyr Boyko, Mariupol Steel Illicha (MMKI: SELL) plans to replace its open hearth furnaces with three oxygen converters. Neither the term nor the CapEx needed for this were disclosed. Concorde Capital: Switching to oxygen converter technology would make MMKI significantly more cost efficient. We estimate that the CapEx required for such an undertaking could easily reach the USD 1 bln level.

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